$642M Terminal Puerto Bahía Under Development

MarineLink.com
Friday, January 10, 2014
Source: Pacific Infrastructure

Pacific Infrastructure, a subsidiary of Canadian oil company Pacific Rubiales, is developing the multipurpose terminal Puerto Bahia in the South of Cartagena Bay on Colombia’s Caribbean coast.

In September 2012 Pacific Infrastructure awarded the construction of the multipurpose terminal to a consortium formed by Isolux Corsán (Spain), Tradeco (Mexico) and Tampa Tanks (U.S.). The construction of Puerto Bahía is scheduled to be completed during the first half of 2015.

Financing
The total investment amount required for the development of the terminal for handling bulk liquids and general and dry bulk cargoes is $642 million.

In July 2013 the International Finance Corporation (IFC) of the World Bank Group and two funds managed by the IFC Asset Management Company signed an agreement to make their largest-ever equity investment in Colombia’s infrastructure, providing US$ 150 million in support of the Puerto Bahía project.

In October 2013 the Brazilian Banco Itaú BBA S.A. provided a US$ 370 million loan for the project; the Development Bank of Latin America (CAF) approved an additional long-term loan of US$ 50 million in December 2013.

Puerto Bahía has received Free Trade Zone status from the Colombian National Tax and Customs Authority, allowing for significant tax benefits and customs duties exemptions.

Terminal characteristics and facilities:

  • Total area of about 155 hectares for port facilities and industrial park
  • Natural water depth of 19+ meters.
  • Phase 1 storage capacity of 3 million barrels of crude and derivatives to be increased to 4 million barrels in Phase 2.
  • Projected port throughput of 54 million barrels per year.
  • Two docking positions / jetties for VLCC vessels.
  • Fully interconnected tank farm including access to local refineries and crude oil pipeline.
  • Two berths for the handling of dry bulk and general cargo with a total length of 541 meters and the capacity to accommodate of up to 80,000 DWT
  • Dry bulk storage area with a capacity for handling 40,000 tons per month.

 
Oil Pipeline
As an integral part of the Puerto Bahía project, Pacific Infrastructure is also developing the Oleoducto del Caribe (Olecar) a 130 km, 30 inch diameter, crude oil pipeline that will connect Puerto Bahía’s facilities with Colombia’s principal crude export terminal in Coveñas. It will also include a bi-directional connection between Puerto Bahía and Refinería de Cartagena – Reficar (Colombia’s second-largest refinery, currently undergoing a $6.5 billion expansion).

Puerto Bahía is being structured as a large-scale facility available for public use, which will be the first of its kind in Colombia. Nowhere else in the country can a customer lease storage capacity for exclusive use and have control over its logistics and commercialization process to such an extent. The liquids facility will be operated and maintained by Oiltanking International Inc., a leading operator of port terminals currently present in 73 terminals across 23 countries

  • Source: Pacific Infrastructure

    Source: Pacific Infrastructure

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Libya Eastern Oil Company Blocks Tanker Loading Crude for Tripoli Rival

An oil company set up by Libya's eastern government is preventing a tanker from loading a cargo for its Tripoli rival, the National Oil Corporation (NOC), officials said on Tuesday.

CRMG Cranes Arrive in Mersey for Liverpool2

First six of 22 to be installed at £300m terminal; arrival marks end of 13,730 mile (11,930nm) journey from Nantong, China   The first six cantilever rail-mounted

UN to Start Inspecting Commercial Shipments to Yemen

The United Nations will start inspecting shipments to rebel-held ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday,

Finance

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Kongsberg, DNV GL Partner to Reduce Training Costs

Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training

News

Libya Eastern Oil Company Blocks Tanker Loading Crude for Tripoli Rival

An oil company set up by Libya's eastern government is preventing a tanker from loading a cargo for its Tripoli rival, the National Oil Corporation (NOC), officials said on Tuesday.

CRMG Cranes Arrive in Mersey for Liverpool2

First six of 22 to be installed at £300m terminal; arrival marks end of 13,730 mile (11,930nm) journey from Nantong, China   The first six cantilever rail-mounted

UN to Start Inspecting Commercial Shipments to Yemen

The United Nations will start inspecting shipments to rebel-held ports in Yemen in a bid to boost commercial imports and enforce an arms embargo, the world body said on Tuesday,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1326 sec (8 req/sec)